BIGG Digital Assets Inc. (“
BIGG”
or the “
Company”)
(TSXV: BIGG; OTCQX:
BBKCF; WKN: A2PS9W), a leading innovator in the digital
assets space and owner of Netcoins, Blockchain Intelligence
Group, and TerraZero is pleased to provide Netcoins Canadian
operations unaudited fourth-quarter financial guidance for the
period ended December 31, 2024. All financial references are in
Canadian dollars (CAD) unless otherwise noted.
Q4 2024 Financial Guidance
- Netcoins 2024
trading volume was approximately $672 million, roughly 2.3 times
2023’s trading volume of $288 million, marking a 133% increase
YoY
- Total Q4 2024
trading and staking revenue is expected to be $3.66 million,
setting a new quarterly record for Netcoins, and marking an
increase of 125% over Q3 2024 revenues of $1.6 million. Gross
margin remained consistent at 1.31% (Q3 2024 - 1.32%)
- Net Income was
approximately $6.7 million, including unrealized gains on digital
asset inventory due to price appreciation and foreign exchange
gains. Operating expenses were roughly $1.9 million
- Netcoins cash
and digital assets are valued at approximately $16.2 million as of
December 31, 2024 (2023 - $7.9 million), an increase of 105% from
the prior year
- Netcoins holds
$207 million of Assets under Custody (AUC) as of December 31, 2024
(2023 - $87.4 million), an increase of approximately 136% from the
prior year
- Netcoins completed SOC 2 Type 1
certification during Q4 2024
“In 2024, Netcoins had over 66,000 unique users
active on the platform, which shows significant growth”, said
Netcoins CEO Fraser Matthews. “In addition to this milestone
customer activity, we have seen tremendous year-over-year volume
growth, with Q4 2024 expected to be a record revenue quarter for
Netcoins.”
“Our team continues to build quality products
and services for our clients, evidenced by the launch of 8 new
assets to kick off 2025, and we look forward to re-launching our
Web Trading platform at the end of March”, remarked Mr.
Matthews.
Preliminary Unaudited Financial
Information
The financial and operating results included in
this news release are based on preliminary unaudited estimated
results which have not yet been finalized or, in the case of annual
results, audited. These estimated results are subject to change
upon completion of the financial statements for the year ended
December 31, 2024, and the audit of such financial statements and
such changes could be material due to, among other things, the
completion of BIGG's financial closing procedures, final
adjustments, review by BIGG's auditors and other developments that
may arise between now and the time the financial results are
finalized. Accordingly, such estimated results are forward-looking
statements (as defined below) within the meaning of applicable
securities legislation and are subject to the limitations and risks
described under "Forward-Looking Statements" below.
BIGG anticipates filing its audited annual
financial statements for the year ended December 31, 2024, and
related management's discussion and analysis on SEDAR+ in late
April 2025.
Dan ReitzikInterim
CEOir@biggdigitalassets.com778.819.3890
About BIGG Digital Assets
Inc.
BIGG Digital Assets Inc. (BIGG) believes the
future of crypto is a safe, compliant, and regulated environment.
BIGG invests in products and companies to support this vision. BIGG
has three portfolio companies: Netcoins (Netcoins.com), Blockchain
Intelligence Group (BlockchainGroup.io), and TerraZero
(TerraZero.com).
Netcoins offers secure crypto
trading in Canada and the USA, with a mission to make crypto
trading easy. Netcoins has a robust product offering with over 60
assets for Crypto Trading, Netcoins Pay Mastercard and Staking
(Canada Only). Netcoins facilitates crypto trading via its
cutting-edge Mobile and Web applications, API, and through its OTC
Trading Desk. For more information please visit our website
www.Netcoins.com.
Blockchain Intelligence Group
is an industry leading digital asset forensics, anti-money
laundering detection, and cryptocurrency investigations company. At
the heart of our operations is a deep-rooted expertise in
visualizing digital assets and market related activities. This
expertise is leveraged to monitor transactional data with a
constant eye to assisting our customers with risk management, due
diligence, and forensic services for digital assets. For more
information please visit our website www.BlockchainGroup.io.
TerraZero Technologies Inc. is
a vertically integrated Metaverse development group and leading
Web3 technology company specializing in helping brands create
immersive experiences. TerraZero's Metaverse-agnostic vision is to
develop and implement products and services with scalable
commercial applications to flourish engagement across gamified
experiences where enterprise-level businesses, metaverse platforms,
and Web3 creators can seamlessly bridge and actionably grow their
virtual world and the physical world endeavours together as one.
TerraZero owns digital real estate for brands to establish a
presence in existing virtual worlds and can also offer brands their
own private worlds to provide offices and services to those
interested in the metaverse. Furthermore, TerraZero acquires,
designs, builds, and operates virtual assets and solutions to
monetize the metaverse ecosystem. TerraZero’s businesses are
segmented into five (5) divisions which include: (1) immersive
experience creation in existing or private virtual worlds; (2)
advertising; (3) data analytics; (4) events and marketing; and (5)
development of the Intraverse. TerraZero aims to support the
community, foster innovation, and drive adoption. For more
information, please visit https://TerraZero.com/ or contact
hello@TerraZero.com.
For more information and to register for BIGG’s
mailing list, please visit our website at
https://www.BIGGdigitalassets.com. Or visit SEDAR+ at
www.sedarplus.ca.
Future operating results could also be
materially affected by the price of cryptocurrency and the demand
(or lack thereof) for cryptocurrency. In addition, BIGG’s past
financial performance may not be a reliable indicator of future
performance.
Forward-Looking Statements
Certain statements in this release are
forward-looking statements or information, which include the
expected opportunities, outcomes, potential and benefits of the
Company’s products and services, the expected adoption and growth
of cryptocurrency and the Company’s products and services, adding
additional cryptocurrency assets/coins to Netcoins, evaluating,
researching and predicting market trends, re-launching the web
trading platform for Netcoins and the expected timeline, the
development and completion of products and services, the launch of
products and services, events, plans, courses of action, and the
potential of the Company’s technology and operations and other
matters. Forward-looking statements consist of statements that are
not purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Such
information can generally be identified by the use of
forward-looking wording such as “may”, “expect”, “estimate”,
“anticipate”, “intend”, “believe” and “continue” or the negative
thereof or similar variations. Readers are cautioned not to place
undue reliance on forward-looking statements, as there can be no
assurance that the plans, intentions or expectations upon which
they are based will occur. By their nature, forward-looking
statements involve numerous assumptions, known and unknown risks
and uncertainties, both general and specific, that contribute to
the possibility that the predictions, estimates, forecasts,
projections and other forward-looking statements will not occur.
These assumptions, risks and uncertainties include, among other
things, the state of the economy in general and capital markets in
particular, the ability to manage operating expenses, which may
adversely affect the Company’s financial condition, the ability to
remain competitive as other better financed competitors develop and
release competitive products, volatility in the trading price of
the common shares of the Company, the demand and pricing of
cryptocurrency, the Company’s ability to successfully define,
design and release new products in a timely manner that meet
customers' needs; the ability to attract, retain and motivate
qualified personnel; competition in the industry; and other
factors, many of which are beyond the control of BIGG.
Forward-looking statements contained in this press release are
expressly qualified by this cautionary statement. Undue reliance
should not be placed on the forward-looking information because
BIGG can give no assurance that they will prove to be correct. The
securities of BIGG are considered highly speculative due to the
nature of BIGG’s business. For further information concerning these
and other risks and uncertainties, refer to the Company’s website
and filings on www.sedarplus.ca. In addition, BIGG’s past
performance may not be a reliable indicator of future
performance.
Important factors that could cause actual
results to differ materially from BIGG’s expectations include
consumer sentiment towards BIGG’s products and Cryptocurrency,
Blockchain and Metaverse technology generally, technology failures,
the lack of demand for the company’s products and services,
fluctuations in the price of cryptocurrency, the ability to
successfully define, design, and release new products in a timely
manner that meet customers’ needs; the ability to attract, retain,
and motivate qualified personnel; competition in the industry; the
ability to obtain and/or maintain licences, permits and approvals
that are necessary to operate the business; the impact of
technology changes on the products and industry; failure to develop
new and innovative products; the ability to successfully maintain
and enforce our intellectual property rights and defend third-party
claims of infringement of their intellectual property rights; the
impact of intellectual property litigation that could materially
and adversely affect the business; the ability to manage working
capital; increase in costs and expenses; the dependence on key
personnel; competition; the demand and pricing of cryptocurrencies
and NFTs (including digital assets); litigation; security threats,
including a loss/theft of NFTs, cryptocurrencies, and other assets;
and failure of counterparties to perform their contractual
obligations.
The forward-looking statements contained in this
press release are made as of the date of this press release. Except
as required by law, BIGG disclaims any intention and assumes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Additionally, BIGG undertakes no obligation to comment on the
expectations of or statements made by, third parties in respect of
the matters discussed above.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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